DZ Bank Allowed to Invest in Crypto
In February 2023, DZ Bank, one of the largest banks in Germany, announced the launch of its own platform for investing in digital currencies.
This platform will be available for institutional investors to use. According to Bloomberg, the platform is expected to be launched by 2024.
DZ Bank, which is comprised of over 700 banks, will begin testing the platform for crypto traders under the supervision of their central office in the near future. In addition to Bitcoin, the bank’s corporate clients will also have the opportunity to invest in altcoins, according to Souad Benkredda who represents the DZ Bank board.
The bank’s clients will be responsible for independently investing in digital assets, as the bank will not provide investment advice.
The financial giant will only provide tools for buying and selling BTC and other virtual currencies to investment firms and funds. The bank’s partners for this endeavor are the Swiss company Metaco and the Harmonize platform.
